Lenders continue to slash mortgage rates this week, with several high street banks offering deals below 5%. TSB is launching a five-year fixed mortgage with an interest rate of 4.89%, available to buyers with a 40% deposit and a fee of £995. Virgin Money has a similar deal at 4.82%, but with a larger fee of £1,295 and only available through brokers. Other banks, such as NatWest and Nationwide, have also announced rate cuts on their mortgage deals. While most of the reductions are focused on new home buyers, there are also good deals for those looking to remortgage. Experts believe that rates might not fall below 4.5% in the short term, but further cuts are expected.
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